PaymentsJournal

Last year, PSCU and Co-op Solutions combined and rebranded as Velera As part of this transformation, Velera seized the opportunity to assess its product journey and modernize its products and solutions to meet the rapidly evolving needs of credit unions and their members. This meant a commitment to developing new solutions and services, while at the same time improving its existing solution portfolio with new features, functionality and enhancements. One year into the integration, Velera’s Denise Stevens, Executive Vice President and Chief Product Officer, and Cody Banks, CUDE, Senior Vice President for Product Experience and Enablement, reflected on the progress, highlighting goals set and the milestones achieved along the way. They spoke with Brian Riley, Co-Head of Payments at Javelin Strategy & Research about this. Read more: https://ow.ly/1bZ250V7GHO #payments #creditunions #fraud #efficiency #customerexperience Jacob Jegher, Brian Riley, Jordan Hirschfield, Ryan Cole, Don Apgar, James Wester, Christopher Miller, PhD, Craig Lancaster, Ben Danner, Matthew Gaughan, Suzanne Sando, Jennifer Pitt, Kevin Libby, Justin Hamel, Sandy Park, Christopher Lascano, Emmett Higdon, Mark Schwanhausser, Tracy G., Dylan Lerner, Ian Benton, Suzanne Sando, Jennifer Pitt, Gregory Magana, Lea Nonninger, Hugh Thomas

Checkout is a critical part of the e-commerce experience, and PayPal aims to reduce friction for UK and European merchants with its Fastlane service. Fastlane was initially announced for U.S. merchants last January and expanded more broadly in August. Its rollout in the UK and EU will be facilitated by JPMorgan Payments (JPM), which will introduce the offering to its substantial merchant network. Read more: https://ow.ly/R23F50V77ma #payments #ecommerce #merchants #FastLane #checkout

American Express’ new partnership with China’s fintech giant Alipay marks a significant step in its expansion into the lucrative and rapidly growing Chinese market. The deal allows American Express cardholders to link their cards to Alipay’s popular digital wallet, enhancing their payment options. By integrating with Alipay’s extensive network—boasting roughly 80 million merchants—American Express cardholders can make seamless make purchases at stores across China without needing cash or a physical card. The partnership also provides American Express access to Alipay’s vast user base, which exceeds 1.3 billion customers. Read more: https://ow.ly/jOoG50V77cy #payments #fintech #China #digitalwallet #mobilepayments

Listen to the FULL PODCAST: https://ow.ly/S7tS50V6Y6s There have been many highly publicized efforts to introduce biometric authentication into the merchant space, such as Amazon’s palm payment technology. While widespread adoption of biometrics in retail has yet to occur, intriguing use cases continue to emerge. Christopher Miller, PhD, Lead Emerging Payments Analyst, and Don Apgar, Director of Merchant Payments at Javelin Strategy & Research, discuss the scenarios where biometric verification has proven effective for merchants, the challenges hindering widespread adoption, and the future of identity verification technology. Read more: https://ow.ly/S7tS50V6Y6s #payments #biometrcis #merchants #chargebacks #fraud

Register Now: https://ow.ly/ovbn50V6UNS The rapid evolution of Payments as a Service (PaaS) offers financial institutions a compelling solution for modernizing payment infrastructure. PaaS enables secure, scalable, and cost-efficient payments processing in the cloud, reducing the burdens associated with legacy systems. Join Deepak Gupta of Volante Technologies, Belhassen Belkhechine of AZQORE SA, and Elisa Athonvarangkul Tavilla of Javelin Strategy & Research delve into the driving forces behind PaaS adoption, its impact on global financial businesses, and how financial institutions can leverage PaaS to meet future demands.  Register Now: https://ow.ly/ovbn50V6UNS #payments #modernization #PaaS #cloudpayments #ISO20022

Back in 2011, a group of Iranian hackers launched a series of distributed DDoS attacks against nearly 50 U.S FIs. The attacks were alarming enough, disabling bank websites and preventing customers from accessing online accounts. However, the situation became more troubling when it was revealed that these attacks were sponsored and directed by Iran. Since then, nation-state cyberattacks have remained a top concern for cybersecurity professionals. Countries like Russia, China, and North Korea have joined Iran in being held responsible for these advanced persistent threats, commonly referred to as APTs. Stephanie (Keinz) Schneider, Cyber Threat Intelligence Analyst at LastPass, spoke with Tracy G., Director of Fraud and Security at Javelin Strategy & Research, about what financial institutions can do to combat these threats from rogue nations. Read more: https://lnkd.in/eJdBPah6 #cybersecurity #NationState #cyberattacks #Iran #Russia #NorthKorea #China Jacob Jegher, Brian Riley, Jordan Hirschfield, Ryan Cole, Don Apgar, James Wester, Christopher Miller, PhD, Craig Lancaster, Ben Danner, Matthew Gaughan, Suzanne Sando, Jennifer Pitt, Kevin Libby, Justin Hamel, Sandy Park, Christopher Lascano, Emmett Higdon, Mark Schwanhausser, Tracy G., Dylan Lerner, Ian Benton, Suzanne Sando, Jennifer Pitt, Gregory Magana, Lea Nonninger, Hugh Thomas

The current wave of ransomware attacks from the Chinese hacking operation known as Ghost infiltrates systems by exploiting vulnerabilities in organizational software. The Federal Bureau of Investigation warns that the hackers are primarily targeting outdated versions of software and firmware. Ghost uses publicly available computer code to exploit security weaknesses in systems that have not been updated or patched, particularly in VPNs and firewalls. Unlike many other cybercriminal groups, Ghost’s attacks typically do not rely on phishing techniques, which have been the most notorious method of data compromises in recent years. Read more: https://lnkd.in/eE3WY9Gw ##fraud #ransomware #hacking #Ghost #ransomattacks

As more companies pass card fees on to customers, Google Pay has started charging convenience fees for bill payments made by debit or credit card in India. According to the Economic Times, electricity and gas bill payments will now incur a fee of 0.5% to 1%, including goods and services tax. These payments were previously free for low-value transactions. The Economic Times cited an instance where a customer was charged roughly ₹15 ($0.17) for paying their electricity bill with a credit card. Read more: https://ow.ly/Rn0l50V6k9I #payments #creditcards #debitcards #conveniencefee #billpayments #India

Creating consistency can be difficult when every market has unique properties. This includes various payment rails, including bank rails, card rails and various types of wallet rails. There are also different data gathering requirements and regulatory considerations for each market. Understanding the most effective payment methods for each market and what payment experiences fit each use case is crucial. Partnering with a trusted payments provider (like Worldpay), with proven expertise in global payouts, can help you navigate local complexities effectively and ensure you send funds to your customers in a way that works best for them. Read more: https://lnkd.in/g3S38_ti #payments #merchant #payouts #personalization #paymentrails

Commercial solutions offered by banks have typically been tailored to larger corporations, with a one-size-fits-all approach that often doesn’t meet the unique needs of small businesses. As a result, many small business owners have turned to consumer-focused products, which lack many of the key functions they need. The lack of compelling options available have driven many to seek financial solutions outside of their financial institution. Tim Ruhe, VP, Head of Small Business Payments at Fiserv, Ryan Looper, Director of De Maison East, and Brian Riley, Co-Head of Payments at Javelin Strategy & Research, discuss the challenges small businesses face and the opportunities financial institutions have to better support their small business clients. Read more: https://ow.ly/fwaJ50V699K #payments #banking #FIs #digitalpayments #smallbusiness Jacob Jegher, Brian Riley, Jordan Hirschfield, Ryan Cole, Don Apgar, James Wester, Christopher Miller, PhD, Craig Lancaster, Ben Danner, Matthew Gaughan, Suzanne Sando, Jennifer Pitt, Kevin Libby, Justin Hamel, Sandy Park, Christopher Lascano, Emmett Higdon, Mark Schwanhausser, Tracy G., Dylan Lerner, Ian Benton, Suzanne Sando, Jennifer Pitt, Gregory Magana, Lea Nonninger, Hugh Thomas